WWYD?

mrshall1027 · June 2014

Ok, so I'm trying not let me emotion from this whole situation cloud my judgement, so I need to know what y'all would do. The sellers have rejected our last offer, which was $10k lower than their list price. They want to be at $5k lower than list. H wants to walk away until mid next week to see if they come back and accept our offer of the $10k less. I'm thinking they are not going to budge because they haven't this entire time, and we submitted our initial offer on Sunday. So, to me it's just a waste of time waiting when we could just get the ball rolling. We have the offer written up with some contingencies and 45 day option period at absolutely no cost to us, so we have plenty of time to walk away if we need to. Our builder has already walked the lot with us and gave us the site prep cost, so there's no surprise there. This is the best priced lot in the area with the type of view that it has, so I really don't want to risk loosing it. So, how would y'all move forward?

catwine · June 2014

How long has it been listed? If it's a new listing the sellers are likely going to wait for a better offer because they still have time, but if it's older they might be willing to reconsider your offer if you wait for a week or so.

We saw our house on a Thursday and made the offer by Sunday. The house had just been listed so when the sellers counter offered, we accepted because we were running out of time to buy and didn't want someone else to get our house.

I believe everything happens for a reason. So if the sellers end up accepting your offer, great. If not, that just means there is a better lot for you somewhere else. GL!

goatlady12 · June 2014

Trust your gut. I'm going to send you a private message on this.

LDubHawksFan · June 2014

Maybe it's being fresh in the so cal housing market, but I think $5k is not worth risking losing the house. I would accept their counter.

minionlover · June 2014

If you did an appraisal on it what do you think it would be? Are prices going up, down or are they flat? What have other pieces of vacant land sold for recently? Is there some kind if mortgage on the property and about how much is it for? If you were selling this property how much do you would you want for it?

mrshall1027 · June 2014

It's been listed for almost 3 years. The market for lots is much different than for homes. Average sale time is around a year and a half, and in the area we are looking in, it's longer because it's further from the city. The lot next to this one is recently under contract and sold for the price the seller wants us to pay.

My husband is set on walking away for now, so I guess that's what we are doing. I'm so over this whole process right now. It's not anywhere near as fun and exciting as I thought it would be.

aimeek420 · June 2014

I understand wanting to stick to your guns on a budget/price; however, $5k on the life of a mortgage amounts to very little on a monthly basis. Personally, I wouldn't risk losing a lot that you prefer to build on over $5k.

brainybrunette · June 2014

^^^ Ditto

Obviously I don't know your financial situation, but 5K doesn't seem significant enough to me to lose the property for. You know what's best for you though.

WWYD?

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